, a leading medical and adult-use recreational cannabis company with operations in Israel, Canada, and Germany, provided preliminary unaudited financial results for the three months and fiscal year ended December 31, 2021.
In Israel, we have become among the largest distributors of medical cannabis and are well positioned to capture market growth today and in the future with the potential for recreational legalization.
“As we move through 2022, we remain focused on realizing synergies across our supply chain while scaling operations in the three largest federally legal markets where we currently operate, which makes IMC uniquely positioned to emerge as the leading purveyor of premium cannabis on a global scale.
With its commitment to responsible growth and financial prudence, and the ability to operate within the strictest regulatory environments, the Company has quickly become one of the leading cultivators and distributors of high-quality cannabis globally.
In Germany, the IM Cannabis ecosystem operates through Adjupharm GmbH , where it cultivates and processes cannabis for the adult-use market at its Ontario, Nova Scotia, and Quebec facilities under the WAGNERS and Highland Grow brands.
While the Company does not expect there to be any material changes to the financial information presented in this press release, to the extent that it is inconsistent with the information contained in the Audited Financial Statements, the financial information contained in this news release shall be deemed to be modified or superseded by such Audited Financial Statements.
This press release includes reference to “Gross Margin”, which is a non-International Financial Reporting Standards , prior to the effect of a fair value adjustment for inventory and biological assets.